$ 235,000
-
$235,000
Price -
3
Bed -
2
Bath -
1,744
SqFt
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About the Listing EXBR1 - 97973
THIS IS A WONDERFUL FIXER-UPPER "BUY AND HOLD" INVESTMENT (*OPPORTUNITY ZONE*, see below) OR OWNER OCCUPANT PROPERTY ON A LOVELY TREE-LINED, HOMEOWNER BLOCK. PLEASE NOTE, PER DC, AS LONG AS THE NEW (BUY AND HOLD) BUYER IS NOT UNDER DC RENT CONTROL AT THE TIME OF PURCHASE, INVESTOR BUYER CAN INCREASE RENT UP TO MARKET RENT IMMEDIATELY UPON PURCHASE. Market Rent upon renovation is approximately $2400-$3000 for conventional tenant. Tenant is on a month-to-month lease. Property has 1 conventional tenant paying $1,800 per month, plus all utilities (gas, water and electric). GREAT rent payment history. Property Being Sold Strictly As-Is. TWO (2) LARGE BEDROOMS ON THE TOP FLOOR; ONE (1) DECENT-SIZED BEDROOM IN BASEMENT. BASED ON THE CURRENT CONFIGURATION AND WITH >1900SF OF INTERIOR SPACE. BUYER CAN EASILY ADD ADDITIONAL BEDROOMS AND A 1/2 BATH ON THE MAIN FLOOR, WHICH INCLUDES A BEAUTIFUL WOOD-BURNING FIREPLACE. PROPERTY ALREADY HAS A GOOD BASEMENT CEILING HEIGHT, APPROXIMATELY 7-FEET, NO NEED TO DIG DOWN FOR ADDED VALUE. ARV $425K, EST. (THE CONNECTED PROPERTY NEXT DOOR, SAME SF SOLD FOR $495K a few years ago) PROPERTY HAS GREAT POTENTIAL, BUT NEEDS WORK. DATED BATHROOMS AND KITCHEN. GREAT BONES. INVESTOR ALERT. INVESTOR SPECIAL. Buying and investing in a property in an *OPPORTUNITY ZONE can provide a great opportunity for capital gains tax deferral, reduction and abatement, ETC., possibly even better than the 1031 Exchange, they say... TOPA Process Completed. PHOTOS SHOW BEFORE TENANT MOVE-IN years ago (before 2018) AND RECENT CONDITION. Seller prefers KVS Title, which is very far along in the title clearance process and is offering a $250 closing credit to Buyer. BUYER FULLY RESPONSIBLE FOR THEIR OWN DUE DILIGENCE. #thisgemcouldbeyours!!!
Listing Highlights
Status
Active
Days on Site
133
Property Type
Residential
MLS ®
DCDC2240840
Year Built
1941
Total Square Footage
1,744
Lot/Acreage
0.06
Interior Details
- Bedrooms: 3
- Bathrooms: 2 Full
- Appliances:
- Air Cond: Central A/C,Window Unit(s)
- Heating: Radiator
- Fireplaces: 1, Mantel(s),Brick,1 Fireplace
- Floor:
- Above Ground Sq Ft: 1284
- Below Ground Sq Ft: 460
- Basement: Unfinished,Connecting Stairway,Daylight,Full,Windows,Walkout Level,Walkout Stairs,Rear Entrance
- Other: Floor Plan - Traditional,Formal/Separate Dining Room
- Water: Public
Exterior Details
- Lot Description: Front Yard,SideYard(s),Rear Yard,Landlocked,Not New Construction,Horse Property: No,In City Limits
- Garage Capacity: N/A
- Zoning: R-3
- Roof:
- Others: Awning(s),Sidewalks,Street Lights,Average
- Sewer: Public Sewer
- Parking Features: Paved Parking,Public,On Street
Financial Details
- Tax Amount: $2,628
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: 2023
Payment Calculator
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Questions About..
507 Oakwood St SE Washington, DC 20032
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